Rupee steady near 94-97 range ahead of RBI MPC meeting
pre-market1 source ↓written by the desknot a recommendation
- against the U.S
- 94-97 range
- crude remains below
- $105 per barrel
The Indian rupee is trading steadily within the 94-97 range against the U.S. dollar as traders await the RBI's Monetary Policy Committee meeting in August. This stability is supported by cooling global crude oil prices, alleviating pressure on India's import bill and current account balance. Analysts suggest that if Brent crude remains below $105 per barrel, the USD/INR exchange rate may stabilize further.
Not investment advice. For informational purposes only.